Over 30 Corporate Personnel Prohibited From Departing the Country

The Central Investigations Department of the Federal Prosecutor’s Office (Head Prosecutor Dae-hee Ahn), currently investigating the “Illegal campaign funds” case, is set to prohibit the departure of chairman of LG, Mr. Goo Bon-moo, and the chief of Samsung’s Department of Restructuring, Mr. Lee Hak-soo, from the country after the prosecutors discovered evidence of LG and Samsung’s involvement in the transferring of illegal campaign funds to the New Millennium Democratic Party and to the Grand National Party.

In addition, the Federal Prosecutor’s Office will also prohibit the departure of the Advisor of Samsung Fire, So Byung-hae, President of Cheil Industries, Ahn Bok-hyun, and Vice-President of Samsung Heavy Industries, Lee Dae-won; the three people who transferred illegal funds under their own names. Therefore, the total number of corporate personnel that have been prohibited from departing the country is approximately 30.

It is speculated that the prosecutors attained this information after the questioning of several personnel from companies such as Hyundai and Lotte; including the questioning of Chairman of the Board and Vice-President of LG Corporation, Kang Yoo-shik.

The Federal Prosecutor’s Office also prohibited the departure of the chairman of a corporation which is at the same level as the top 10 corporations in terms of yearly net income, after revealing speculations of his involvement in additional illegal campaign funds to both the New Millennium Democratic Party and the Grand National Party. The Federal Prosecutor’s Office is also expected to receive a search warrant from the court in the following days in order to confiscate the accounting records of some of the corporations. In addition, the Federal Prosecutor’s Office is planning to call in for questioning those who were involved with the campaign funds for the Grand National Party as soon as Mr. Na Oh-yun, former Chairman of Funds for the Grand National Party during the last presidential elections, complies with his promise of handing over to the prosecutors the party’s funds data on November 17. The Federal Prosecutor’s Office is also expecting to call Grand National Party Congressman Mr. Kim Young-il in for questioning in order to investigate if the party was involved in any other illegal campaign funds transactions with any other corporations other than SK.

Wi-Yong Jung Jin-Kyun Kil viyonz@donga.com leon@donga.com